Banking Awareness Test Questions(Banking Exam ) Questions and Answers

Question 1. Who works as RBI's agent at places where it has no office of its own?
  1.    State Bank of India
  2.    Ministry of Finance
  3.    Government of India
  4.    International Monetary Fund
Explanation:-
Answer: Option A. -> State Bank of India
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!
Question 2. Which of the following is true about the functions performed by RBI?
(i) It is the Bank of Issue
(ii) It acts as banker to the Government
(iii) It is the banker of other banks
(iv) It regulates the flow of credit
  1.    Both (i) and (ii)
  2.    Both (iii) and (iv)
  3.    All the above
  4.    None of the above
Explanation:-
Answer: Option C. -> All the above
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!
Question 3. The Reserve Bank of India was established on _______.
  1.    April 1, 1935
  2.    July 12, 1982
  3.    May 26, 2006
  4.    September 30, 2005
Explanation:-
Answer: Option A. -> April 1, 1935
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!
Question 4. What does 'Nomination' for a deposit account in the bank mean?
  1.    Mandate given by the close relatives of the depositor to settle the death claim in case of death of the depositor
  2.    Mandate decided by the bank to settle the death claim of its depositor
  3.    Mandate of the depositor in favor of one or more persons to claim the amount on death of the depositor
  4.    Mandate of the depositor in favor of a close relative who can claim the amount on death of the depositor
Explanation:-
Answer: Option D. -> Mandate of the depositor in favor of a close relative who can claim the amount on death of the depositor
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!
Question 5. When did the Government of India set up the Export-Import Bank of India?
  1.    January, 1982
  2.    January, 1993
  3.    March, 1971
  4.    June, 1969
Explanation:-
Answer: Option A. -> January, 1982
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!
Question 6. When did the National Housing Bank start its operations?
  1.    July, 1982
  2.    July, 1988
  3.    April, 1980
  4.    March, 1971
Explanation:-
Answer: Option B. -> July, 1988
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!
Question 7. When did the Government initiate the process of amalgamation of RRBs in a phased manner?
  1.    September, 2005
  2.    March, 2009
  3.    June, 2009
  4.    March, 2010
Explanation:-
Answer: Option A. -> September, 2005
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!
Question 8. When were the draft guidelines for building grievance redressal mechanism within NBFCs (Non-Banking Financial Companies) published?
  1.    April 5, 2006
  2.    May 26, 2006
  3.    June 29, 2007
  4.    September 30, 2005
Explanation:-
Answer: Option B. -> May 26, 2006
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!
Question 9. When did the government acquire RBI's shareholding (72.5%) in NABARD?
  1.    May, 2008
  2.    June, 2008
  3.    August, 2008
  4.    March, 2009
Explanation:-
Answer: Option B. -> June, 2008
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!
Question 10. Which subsidiary bank was merged with the State Bank of India on August 13, 2008?
  1.    State Bank of Hyderabad
  2.    State Bank of Indore
  3.    State Bank of Mysore
  4.    State Bank of Saurashtra
Explanation:-
Answer: Option D. -> State Bank of Saurashtra
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!
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